Anglo American’s mining output bounces back after lockdowns
JOHANNESBURG - Anglo American Plc said its mining operations have continued to recover from the early impact of the coronavirus pandemic, with production of diamonds and platinum rising sharply.
The diversified miner’s production jumped by almost a quarter in the three months ending Sept. 30 compared with the previous three months. Anglo’s operations were hit harder than many of its rivals earlier this year due to its reliance on South Africa, where the government imposed stringent lockdown measures. It’s also the world’s biggest producer of diamonds, which were among the hardest-hit commodities.
The company maintained most of its full-year production targets, although it slightly lowered thermal coal forecasts after a strike in Colombia. The goal for platinum and palladium was increased after operations were quickly restarted following an explosion at a plant earlier this year.
“We are currently operating at about 95% of our normal capacity,” said Anglo Chief Executive Officer Mark Cutifani. “We have also seen encouraging improvement in demand for rough diamonds as we approach the holiday selling season.”